Trump Warns Takaichi Over Weak Yen at Recent Summit

US President Donald Trump voiced concern over the weak yen at a recent summit with Japanese Prime Minister Sanae Takaichi, Finance Minister Satsuki Katayama said. This was an unusually detailed account of leaders' talks on currencies by a government official.

The dollar has been rallying against the yen and other major currencies due to strong US economic data, a hawkish Federal Reserve, and surging US bond yields. The yen strengthened after Katayama's remarks, rising from 158.60 per dollar to trade around 157.20.

Takaichi confirmed Trump's comments at their meeting in New York, saying the weak yen was creating difficulties for their trade. However, she stressed that there was no discussion of monetary or fiscal policy at the summit and that the Takaichi administration's economic policy stance remains unchanged.